PARIS–(BUSINESS WIRE)–Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a substantial(1) contract from Libra Oil & Gas BV, a consortium led by Petrobras Netherland BV (40%) and partners: Shell (20%), Total (20%), CNOOC (10%) and CNPC (10%).
The project includes the supply of flexible pipes for the Libra Extended Well Test field, located in the Santos Basin pre-salt area, Brazil. This is one of the first steps of the Libra giant field development.
This contract covers the supply of high-end flexible pipes including: 8″ oil production, 6″ service and 6″ gas injection flexible pipes. Designed to produce the first Libra field oil, they are the first 8’’ oil production pipes to be installed in pre-salt area. This demonstrates Technip´s technological leadership and reinforces flexible pipes suitability for the ultra-deepwater and fluid harsh conditions of Brazilian pre-salt fields.
Technip’s operating center in Rio de Janeiro, Brazil, will perform the project management and engineering. The highly technological flexible pipes will be produced at Technip’s manufacturing sites in Vitória and Açu, Brazil. Delivery is scheduled to start in the second half of 2016.
Adriano Novitsky, President of Technip in Brazil, commented: “Technip is very proud to have been selected to supply the first pipes for the Libra development. It is the result of strong R&D and engineering efforts to overcome the pre-salt technical challenges using flexible pipes solution.”
(1)For Technip, a “substantial” subsea contract is ranging from €100 to €250 million.
°
° °
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 37,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX:TKPPY) as American Depositary Receipts.